Central order book applies a price-time trading algorithm, with priority given to the first order at the best price

Négociation hors carnet

Against Actuals, Exchange for Swaps

Chambre de compensation

LCH S.A.

Notice day/Tender day

The sixth business day preceding the first business day of the delivery period

Origins tenderable

European Union

Price basis

Euros per metric tonne. Delivered free to Buyer's transport in accordance with Incoterm FCA from a EC regulations compliant store or production facility (duty paid) within a 150 km radius of Antwerp, Hamburg or Rotterdam, restricted to continental delivery

Quality

Sweet, food grade, made by the spray process directly and exclusively from the removal of water from fresh sweet whey, derived either from the manufacture of cheese or rennet casein, pasteurised and without added preservatives, compliant with EU legislation.

Stored in a cool, dry environment, protected from moisture and foreign odours. Storage at a maximum of 25 degrees Celsius with a relative humidity below 65 percent.

Packaging

25kg net weight in a minimum of 2ply kraft paper bag with a polyethylene liner with a minimum tare of 240g, each package marked to enable trace back.

Age profile

Goods must be tendered no later than 6 months after the date of production.

Delivery Limits: Delivery limits are set by LCH S.A. and are published 80 days before the last trading day and are applicable for 12 days before the last trading day of the delivery month. Please refer to the LCH S.A. notices on the website www.lch.com/risk_management/sa/risk_notices